Banking and Payments in South African Casinos
Online casinos are flexible when it comes to banking. Their goal is to make it as easy and convenient as possible for you to top up your account and to withdraw your winnings. As a result, the best casinos support a variety of payment methods that you can use.
The Most Popular Casino Payment Methods in South Africa
There are a variety of payment methods that you can use to deposit money in your online casino account. All of them are quick, convenient, and safe. Depending on your preferences, you can use anything from classics like a debit card to modern solutions like cryptocurrency or E-Wallets to top up your account. Each of them have their own pros and cons.
Credit and Debit Cards
Credit and debit cards are a traditional payment method in online casinos across South Africa. Their main advantages are that the payments made using them are quick, safe, and cheap: the payments made using them are instant, and won't cost you a cent.
The downsides of bank cards is that they are not universally available in South Africa. Plus, they sometimes come with extra verification requirements.
Instant Electronic Fund Transfers - EFTs
Instant EFTs or direct deposits represent digital direct payments from one bank account to another. These transfers are automated, and without the need for paper documents. EFTs are simple, accessible, and safe. And most importantly, they work without the hassle of using a credit or debit card.
Like all other payment methods, instant EFTs have their downsides. For one, they are difficult to reverse, and in some cases, there may be fees involved.
E-Wallets
E-Wallets are widely used by South African online casino players. They are another way to instantly top up your casino account without the need to share your banking or card details with the casino. E-Wallets can also be used to instantly withdraw winnings (after the appropriate verifications and approvals, of course).
The downside of e-wallets is that they aren't exactly cheap. Using them always involves transfer fees, and in some cases, exchange rates that are not in your advantage. Plus, you'll need a card or a bank account where you'll have to withdraw your money, and the transfer from the wallet to it is not instant - it can take some time.
Prepaid Vouchers
Prepaid vouchers are the quick and convenient solution to turn your cash into money you can spend online. They can be purchased at a huge variety of outlets, from vending machines and retail stores to gas stations, spaza shops, informal vendors, and mobile banking apps. You can use a voucher to instantly top up your casino account with cash, without the need to deposit the money to a bank. Simply paste the voucher PIN into the appropriate field in the Cashier section and you're done.
The downsides of prepaid vouchers is that not all South African online casinos accept them.
Cryptocurrency
Gone are the days when only crypto casinos accepted cryptocurrency deposits. Today, an ever-increasing number of traditional online casinos accept deposits in at least a handful of cryptocurrencies, including Bitcoin, Litecoin, Bitcoin Cash, and some others.
The downside of cryptocurrency deposits at casinos is that they are made through third-party services, and this can imply extra fees. Also, only a handful of cryptocurrencies are supported by online casinos.
Deposit Methods
When it comes to deposits, South Africa's online casinos are very flexible. Many of them accept deposits made using all the methods we described above. But not all of them support all deposit methods. Card payments and EFTs are pretty much universally available in South African casinos, but prepaid vouchers and crypto payments are only supported by some. Check our online casino reviews for more details about the deposit methods they support.
Withdrawal Methods
Online casinos are not that flexible when it comes to withdrawals. Some casinos only support a handful of withdrawal methods, like cards, bank transfers, EFTs and e-Wallets. Make sure your online casino of choice supports your preferred withdrawal method before diving in.
Deposit and Withdrawal Limits
Each casino has its own policy on deposits and withdrawals. This includes limits on the minimum and maximum amounts of your deposits or withdrawals. Each payment method has its own minimum deposit amount, and some bonuses also have required minimums set in their terms. When it comes to withdrawals, there's also a limit for each payment method - both for the minimum and the maximum amount that you can withdraw in a single session.